TEMPE, Ariz.--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) announced today it has entered into an
agreement to construct a 250 megawatt (MW)AC solar power
plant in Riverside County, California, for a subsidiary of NextEra
Energy Resources, LLC.
The McCoy Solar Energy Project will be located on approximately 2,300
acres of mostly public land provided by the Bureau of Land Management
(BLM) approximately 13 miles northwest of Blythe, California. Under the
agreement, First Solar will provide Engineering, Procurement and
Construction services, using First Solar's cadmium telluride (CdTe)
photovoltaic thin-film modules.
The project is located near the 550MWACDesert Sunlight Solar
Farm, jointly owned by a subsidiary of NextEra, GE Energy Financial
Services, and Sumitomo Corporation of America, currently under
construction by First Solar. An affiliate of NextEra Energy Resources
also previously purchased two projects built by First Solar in Canada.
"First Solar is pleased to have this opportunity to work again with
NextEra," said Roger Bredder, First Solar's Director of Business
Development for the U.S. "And we are proud to continue providing jobs in
Riverside County."
Construction is expected to begin in late 2014, with completion in late
2016. The project will provide up to 400 construction jobs at peak
operation.
The McCoy Solar Energy Project construction award reaffirms First
Solar's position as one of the world's leading developers and builders
of PV solar power systems. The company was recently ranked as the second
largest contractor in the global power sector by Engineering News-Review.
About First Solar
First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced module and system technology.
The company's integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today. From
raw material sourcing through end-of-life module recycling, First
Solar's renewable energy systems protect and enhance the environment.
For more information about First Solar, please visit www.firstsolar.com.
For First Solar Investors
This release contains forward-looking statements which are made pursuant
to safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include statements, among
other things, concerning: our business strategy, including anticipated
trends and developments in and management plans for our business and the
markets in which we operate; future financial results, operating
results, revenues, gross margin, operating expenses, products, projected
costs, warranties, solar module efficiency and balance of systems
("BoS") cost reduction roadmaps, restructuring, product reliability and
capital expenditures; our ability to continue to reduce the cost per
watt of our solar modules; our ability to reduce the costs to construct
photovoltaic ("PV") solar power systems; research and development
programs and our ability to improve the conversion efficiency of our
solar modules; sales and marketing initiatives; and competition. These
forward-looking statements are often characterized by the use of words
such as "estimate," "expect," "anticipate," "project," "plan," "intend,"
"believe," "forecast," "foresee," "likely," "may," "should," "goal,"
"target," "might," "will," "could," "predict," "continue" and the
negative or plural of these words and other comparable terminology.
Forward-looking statements are only predictions based on our current
expectations and our projections about future events. You should not
place undue reliance on these forward-looking statements. We undertake
no obligation to update any of these forward-looking statements for any
reason. These forward-looking statements involve known and unknown
risks, uncertainties, and other factors that may cause our actual
results, levels of activity, performance, or achievements to differ
materially from those expressed or implied by these statements. These
factors include, but are not limited to, the matters discussed in Item
1A: "Risk Factors," of our Annual Report on Form 10-K for the year ended
December 31, 2012, as updated and supplemented by risk factors included
in our Prospectus dated June 12, 2013 filed with the SEC pursuant to
Rule 424(b)(5) (the "Prospectus"), Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and other reports filed with the SEC.
First Solar Media
Steve Krum
+1 602-427-3359
steve.krum@firstsolar.com
or
First
Solar Investors
David Brady
+1 602-414-9315
dbrady@firstsolar.com
or
Ryan
Ferguson
+1 602-414-9315
rferguson@firstsolar.com
Source: First Solar, Inc.
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